So I currently have 9 Fannie backed loans, saving the 10th for second home or something....
Where do I find more leverage? I have heard of portfolio loans and LOC, but I have found none available, well except for really hard money loans. I would love to have like a 60-70% ltv LOC or get a 10-30 yr loan at 60-70% LTV with under 7% interest but I have found nothing. I guess Wells Fargo used to do LOCs but no more. I have called many small banks with no success. I am in the Sacramento area and the cap rates are to low so I am looking to invest out of state, probably in the southeast, Florida is looking like the next target.
I just bought a home cash in MS, it will cash flow and return great but I would rather buy 4-5 properties with leverage than 2 cash.
Have you checked B2R or other similar portfolio loan options? Min loan is $500K with 5+ properties and the rates are around mid 6's.
Thank you, I will look into them are there any better ones?
from this thread it looks like they are for properties I already have so I would have to use it to pay off existing loans and hopefully have some cash left over to buy more, not sure if that helps in the grand scheme of things.
Yes there are quite a few offering portfolio loans nowadays. I can give you some brokers who have connections to these lenders. And this type of loan is best if you have built up equity in the properties and want to extract it for purchasing more. Typically it's a 70% LTV.
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